Some people argue that Bitcoin is unfair because:
- it dramatically favored early adopters with ~ 10000x returns.
- the coin distribution policy (halving every ~ 4 years) could make it unsustainable to mine in the long-term or drive the prices/fees even higher
- the hash algorithm has been taken over by ASIC industry (still it created a monster network with tremendous hashing power making it near impossible to break)
Altcoins can alleviate this problem by different approach to all above issues.
In my opinion, they are welcome to the crypto - ecosystem. Sure, some have weaker network hash rate which might make them less secure than bitcoin and other disadvantages due to reduced block time (orphan blocks) but still very very welcome.
I reccomend highly coincheckup.com for a lot of information on altcoins.
Topic: Do we Need Altcoin? - page 130. (Read 23653 times)
In fact, we need, at least for earnings, many new products fit very well. So while there are people who pay attention to them, they are undoubtedly needed and useful.
Competition is always, always, only healthy, and BTC can't really be used for every single use case out there so the need for other tokens and coins is obvious. I do agree that pegging the prices to BTC is a bit bad because then BTC will dictate how the market fluctuates, but I'm sure that in the future we are able to get away from this practice somehow.
Bitcoin and their varieties are just common universal crypto-currencies, which are completely unsuitable for various specific tasks, which are solved by altcoins released as a result of the ICO. It is tokens that are released as a result of the ICO, very useful and necessary in various areas of this life. Therefore, we need a lot of altcoyins, which would work everywhere, where you can apply the technology of blockchein.
Yes because altcoin solves the pain that industries struggle for so long like having the fair share that they deserve. They pay too much for the middlemen because they have no choice so we really need altcoins to remove that.
I think it needs some competition. The amount of alts out there now is too many though in my opinion.
Obviously it is necessary to have other altcoins, as each one has its own purpose and theoretically a real problem that will be overcome.
I agree with you. We need altcoins and it is better if we are holding a good altcoins. Altcoin has a potential to grow just like Bitcoin, it is just a matter of time and trust. Coins like NEO , DOGE , DGB , OMG , NXT , WAVES.... all have uses beyond the coin themselves . Answer this question: Why do we need Apple, Google, Facebook, Whisper, Kik, Slack etc, we already had IRC, MSN, ICQ etc? And you will answer your own !
True, we need many coins for the simple fact this creates competition, if bitcoin was the only coin it is possible there will not be a hurry to implement the lightning network, it is my belief that in part the devs pushed very hard to activate segwit in the previous year because Ethereum was getting very close to bitcoin, so competition is always good since it forces the devs of all coins to try to do their best and offer results as soon as possible.
We need altcoin because altcoins are the reason why we have choices in making investment and altcoins are the reason why we have different idea for the future and the possible solutions for the problems that we are currently have right now in this world.
There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?
For me yes we really need altcoin just for variety because we all know the humans, we are not contented in only one thing we need a lot of chioces and it is also gonna be nothing if there are only one coins that will be use by the whole world that would be ridiculous. And in case that the coins will be down you atilp have spare one. Amd some coins you might not wanted so they add more and they are all unique in their all ways.
I dont think that we need that. The new altcoin is bad for a long term investor, because it can make a negatif impact for the price of coin that they are holding.
Sure, it increases variety. Think of it as different fiat currencies you may want to invest in. Just because the dollar and euro are the strongest currencies right now, doesn't mean other fiat currencies are not required?
I agree. It makes the market more active and vibrant because there are other mediums to invest on or trade for. A market that only has one asset leading in every categorical aspect would be a dull and unproductive market. Therefore, the existence of altcoins is a means of competition for the market to have several players in it. That gives it more movement and activity. Also, each altcoin gives different entities a chance, developers for that matter, to introduce their own technologies, and therefore, improve their own businesses as well.
Yes we need altcoin, so we have many choices to invest. Bitcoin price too high and if only invest with small investment we need wait so long time to make huge profit here, but with altcoin we can make little money to be huge. BCH, ETH, LTC also expensive for now, so we need cheap alt like doge, rdd, and many cheap coin to invest with little money.
Current flow of altcoins is evidence of market immature. This is the first step on the way of market development. Think that going forward we will face with strong consolidation trends among cryptociurrencies. Some of them will merge, another adds new functionality that makes existence of the rest meaningless.
Yes some of the altcoins has a different values so needing altcoins is not just we need it its stick on our lives becuase people when they see bad on a material they do muvh more better to help the people. Thats why maybe somealtcoin are better than the other bitcoins criteria thats why it important and we need it.
There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?
of course altcoin we really need because by playing altcoin you can get wealth and can simplify to multiply the assets or bitcoin you have, lest you not use altcoin available to multiply the bitcoin you have.
Of course, we need, it's just too boring with one coin. But it's not the point, ALT coin it's just a small proportion of million chance to become a millionaire, people need something to play when BTC going down, or like stability coin if BTC is unstable.
Yes I couldn't agree more, we definitely need altcoins they provide opportunities and raises
the stakes for everybody to invest and acquire profits. If it's just one coin, that would
resemble a monopoly. It disrupts the balance in the cryptocurrency market. Altcoins
have a distinct purpose, each and every new coins have a target market that exceedingly
focuses and enhances that area. With bitcoin's success, altcoins has also the capacity
to make it big. They are considerable options that provide substantial solutions and
services.
There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?
In my opinion, bitcoin does not cope with the functions and ideas assigned to it for several months already - the network is overloaded and the transactions are too slow. The forks of bitcoin are simply useless in comparison with the promising altcoins.
If the question do we need altcoin?
first we should understand what do we need, people came out with new altcoin everyday is just because they though people in the community of cryptocurrency are in needed of new altcoin, new project with old idea or new idea. so as long people still invest in new project there will be more new alt. but i think it will not lasting until some point and it will continue. crypto is still new and young we can't guess what happen next precisely, but i feel it will be Amaze the community.
first we should understand what do we need, people came out with new altcoin everyday is just because they though people in the community of cryptocurrency are in needed of new altcoin, new project with old idea or new idea. so as long people still invest in new project there will be more new alt. but i think it will not lasting until some point and it will continue. crypto is still new and young we can't guess what happen next precisely, but i feel it will be Amaze the community.
Obviously it is necessary to have other altcoins, as each one has its own purpose and theoretically a real problem that will be overcome.
Jump to: